SEC Comment Letter for Fortress Biotech, Inc. (FBIO, FBIOP) (CIK 0001429260) (FBIO) — Apr 24, 2020
Fortress Biotech, Inc. (FBIO, FBIOP) (CIK 0001429260)
Date: April 24, 2020 · CIK: 0001429260 · Accession: 0000000000-20-003526
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-35366
Letter
April 24, 2020 Lindsay A. Rosenwald, M.D. Executive Chairman, Chief Executive Officer and President Fortress Biotech, Inc. 2 Gansevoort Street, 9th Floor New York, NY 10014 Re:Fortress Biotech, Inc. Preliminary Proxy Statement on Schedule 14A Filed April 17, 2020 File No. 001-35366 Dear Dr. Rosenwald: We have reviewed your filing and have the following comment. Please respond to these comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Preliminary Proxy Statement on Schedule 14A filed April 17, 2020 General 1.Please revise your disclosure to address the effects of the proposed increase in the number of authorized common shares, including the potential dilutive and anti-takeover effects. Please also revise your disclosure to address the effects of the dividend payment date change for the company's 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock from quarterly to monthly. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.
FirstName LastNameLindsay A. Rosenwald, M.D. Comapany NameFortress Biotech, Inc. April 24, 2020 Page 2 FirstName LastName Lindsay A. Rosenwald, M.D. Fortress Biotech, Inc. April 24, 2020 Page 2 You may contact Jeffrey Gabor at 202-551-2544 or Celeste Murphy at 202-551-3257 iwith any questions. Sincerely, Division of Corporation Finance Office of Life Sciences cc: Mark F. McElreath, Esq.
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April 24, 2020
Lindsay A. Rosenwald, M.D.
Executive Chairman, Chief Executive Officer and President
Fortress Biotech, Inc.
2 Gansevoort Street, 9th Floor
New York, NY 10014
Re:Fortress Biotech, Inc.
Preliminary Proxy Statement on Schedule 14A
Filed April 17, 2020
File No. 001-35366
Dear Dr. Rosenwald:
We have reviewed your filing and have the following comment.
Please respond to these comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Preliminary Proxy Statement on Schedule 14A filed April 17, 2020
General
1.Please revise your disclosure to address the effects of the proposed increase in the number
of authorized common shares, including the potential dilutive and anti-takeover effects.
Please also revise your disclosure to address the effects of the dividend payment date
change for the company's 9.375% Series A Cumulative Redeemable Perpetual Preferred
Stock from quarterly to monthly.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
FirstName LastNameLindsay A. Rosenwald, M.D.
Comapany NameFortress Biotech, Inc.
April 24, 2020 Page 2
FirstName LastName
Lindsay A. Rosenwald, M.D.
Fortress Biotech, Inc.
April 24, 2020
Page 2
You may contact Jeffrey Gabor at 202-551-2544 or Celeste Murphy at 202-551-3257
iwith any questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences
cc: Mark F. McElreath, Esq.